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Feb 16, 2013 1:30pm EST
. >> did your office not estimate that the tax increases that to the clinton-era rates on those earning $200,000 as individuals -- $250,000 as couples -- would cost about 200,000 jobs? >> that sounds roughly right. i do not remember the specifics. you are referring to a report on the fiscal clip from last fall. i do not remember the exact numbers. >> we are also told by your office that the sequester reductions in spending would affect about 0.6% of growth -- you said about 750,000 jobs -- because government would not be spending that money on creating government jobs. but as we just established, government does not inject a dollar into the economy that is not first taken out of the economy. i'm afraid we are getting to a situation where we are being told that tax increases are beat -- are bad for the economy, too much borrowing is bad for the economy, particularly in the future you are projecting, and spending cuts are bad for the economy, and that does not leave us with many options. >> the effects of fiscal policy on the economy are different under different economic circumstances. t
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